Oun: Proposal to manage Libyan oil revenues abroad is encroachment on sovereignty

The Minister of Oil and Gas, Mohammed Oun, rejected the Western proposals circulating about the creation of an international mechanism to manage Libyan oil revenues until the internal disputes between the  government of national unity and the Libyan government for assuming power are resolved.

Oun added, in an interview with Asharq Al-Awsat newspaper, that these proposals are an encroachment on Libyan sovereignty, expressing his regret for the Libyan voices supporting these proposals, calling for the removal of what he called agents of the countries interfering in Libyan affairs from decision-making positions and the distancing of the conflicting parties from oil revenues owned mainly by Libyans.

He described the talk of some parties about the possibility of Libya becoming an alternative source for supplying the European continent with its energy needs, and benefiting from the current record rise in prices, as hollow and not true.

Oun said Libya’s ability to export sufficient quantities that contribute to solving the energy crisis in Europe, or seriously affecting the global market, depends on the development of a number of oil and gas fields discovered some time ago, which takes work to be feasible for a period of time ranging from 3 to 5 years.

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